Hi guyz,
Some info on the Dollar Index and what information can we get by looking on its past movement
1.Price is clearly moving towards major bullish trend within its parallel channel. The only confirmation of counter trend start at the break of bullish trend and its previous market structure
2. Based on eWave if im counting it right, Dollar have completed its 3rd Wave and now in its correction process for Wave 4
3. We expect to see some price development at the recent high which would be a start of potential drop towards the swing low trendline to complete its correction process in Wave 4
4. The swing low trendline is inline with 61.8% fib level which would be an ideal place to close or open position in relation to USD pairs
Overall Bias:
We expect Dollar to weaken at the recent high level which at the same time boosting the others currency value
Dollar weaken = (XXXUSD to Buy)
Kindly monitor USD related pairs to match with the flows of dollar index
Thanks
Some info on the Dollar Index and what information can we get by looking on its past movement
1.Price is clearly moving towards major bullish trend within its parallel channel. The only confirmation of counter trend start at the break of bullish trend and its previous market structure
2. Based on eWave if im counting it right, Dollar have completed its 3rd Wave and now in its correction process for Wave 4
3. We expect to see some price development at the recent high which would be a start of potential drop towards the swing low trendline to complete its correction process in Wave 4
4. The swing low trendline is inline with 61.8% fib level which would be an ideal place to close or open position in relation to USD pairs
Overall Bias:
We expect Dollar to weaken at the recent high level which at the same time boosting the others currency value
Dollar weaken = (XXXUSD to Buy)
Kindly monitor USD related pairs to match with the flows of dollar index
Thanks
